Toll Brothers Shares Jump on Earnings Beat, But There’s a Catch for Housing Bulls
Toll Brothers shares rose 2.7% to $127.50 in after-hours trading after quarterly profit and revenue topped Wall Street forecasts. Fiscal Q2 net income fell to $260.6 million from $352.4 million a year earlier, while home sales revenue dropped to $2.51 billion. The company raised its full-year delivery and pricing guidance despite high mortgage rates and softer industry sentiment.